Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv
The KNDS logo is seen on a pre-demonstrator of French interim main battle tank, the CAPINT MBT, produced by Franco-German tank maker KNDS is displayed at the Eurosatory international land and... Purchase Licensing Rights, opens new tabRead more
MUNICH, June 21 (Reuters) - The families that own half of tank maker KNDS have agreed to sell a 40% stake to the German government in a deal valuing the company at up to €18 billion ($20.6 billion), according to a source familiar with the matter.
Defense group KNDS is preparing an IPO for a dual-listing in Frankfurt and Paris that is expected this year.
Sign up here.
The deal will value KNDS between €15 billion and €18 billion, depending on how the share price develops after the listing, the source said.
Bloomberg first reported the stake sale.
KNDS did not immediately respond to a request for comment. The families and the German economy ministry, which is leading the talks on behalf of the government, declined to comment.
KNDS plans to float before the summer, with the exact timing depending on the stake sale to the German government.
An official announcement of the IPO plan, known as the intention to float, is expected by Wednesday, the source added.
($1 = 0.8720 euros)
Reporting by Alexander Huebner in Munich, Christian Kraemer in Berlin and Ananya Palyekar in Bengaluru; Writing by Rachel More; Editing by Alexandra Hudson and Edmund Klamann
Our Standards: The Thomson Reuters Trust Principles., opens new tab
-
X
-
Facebook
-
Linkedin
-
Email
-
Link
Read Next
- June 19, 2026Businesscategory
Commerzbank shares tendered in UniCredit takeover bid inch up
- June 19, 2026
Ambani's Jio Platforms files for $3.8 billion IPO that could be India's biggest, sources say
- June 19, 2026Businesscategory
EU weighing new powers to ease duplicated capital rules for banks
- June 19, 2026
Indian regulator reinstates open market buybacks, tightens rules for officials
- June 19, 2026Businesscategory
US equity fund inflows surge on Iran deal, tech draws record weekly investments
Business
Worldcategory · June 21, 2026 · 7:00 PM UTC · ago
Up to two thirds of British voters, across all party lines, believe Britain's decision to leave the European Union in 2016 has had a negative impact on the country, a poll by the European Council on Foreign Relations (ECFR) showed on Sunday.
4:55 PM UTC
9:46 AM UTC
8:04 AM UTC
Read Original at Reuters →